Weibo Corporation (WB, Financial), a leading Chinese social media platform, has released its unaudited financial results for the fourth quarter and full year ending December 31, 2024, along with its annual dividend plan. CEO Gaofei Wang highlighted the company's robust user strategy adjustments and content ecosystem enhancements, which have strengthened its core areas and AI content ecosystem, maintaining high operational efficiency with an operating margin of 28% and an adjusted margin of 33%. The company has announced a $2 billion dividend for 2024.
In Q4 2024, Weibo's net revenue was $456.8 million, a slight 1% decrease year-over-year. Advertising and marketing revenue declined by 4% to $385.9 million, primarily due to a high comparative base from the previous year's game launches. However, value-added services revenue increased by 18% to $71 million, driven by membership and game-related income. Operating profit was $117.9 million, maintaining a 26% margin.
For the full fiscal year 2024, Weibo's net revenue was $1.75 billion, steady compared to the previous year. Advertising and marketing revenue decreased by 2% to $1.5 billion, while value-added services grew by 13% to $256 million. The operating profit for the year was $494.3 million with a 28% margin.
Weibo ended 2024 with $2.4 billion in cash, cash equivalents, and short-term investments. The company generated $639.9 million in cash from operations throughout the year.
The board has adopted a cash dividend policy, declaring a 2024 cash dividend of $0.82 per ordinary share or ADS, totaling approximately $2 billion. The dividend will be paid to shareholders of record as of April 9, 2025, with payment dates expected around May 8 for ordinary shares and May 15 for ADS.
Weibo will host a conference call to discuss its financial performance and business operations. The event will be live-streamed and available for replay on their investor relations website.
